Domestic buyers are
looking for a greener
lifestyle, but buying
with their heads too.
"
Current sales trends
St Gervais 3,280 euros per m²
Megève 6,880 euros per m²
Chamonix Mont Blanc 6,900 euros per m²
Morzine 6,270 euros per m²
Les Gets 6,200 euros per m²
Annecy 4,190 euros per m²
*source Notaires de France, median price of all apartment
sales between Jan-Sept 2020.
It is estimated that of the 492,000 properties in
Haute Savoie (74), around a quarter are holiday
homes. The median price of apartments sold in
the first nine months of last year was 3,540 euros
per m2. Once again, a lack of development land
and strict local planning guidelines can lead to a
shortage of stock - Chamonix Mont Blanc is one
resort that is currently undersupplied.
Andrew Morgan is based in the spa town of St
Gervais les Bains, he says that demand in the
area is high:
"Around 70% of my clients are French, as is the
norm and this is a mixture of residents and French
expats, with a high number from Geneva who are
looking to buy here. We also have high enquiry
levels from overseas including UK based buyers
who are happy to make offers based on video
viewings/virtual tours. Investment in the local
infrastructure (including a new cable car link)
is attracting interest. This is mirrored by local
investment in new hotels, with a 5* hotel recently
opened and another, with 79 bedrooms, under
construction.
In St Gervais and Chamonix, as well as other well
located towns and villages with great access to
Geneva, rental properties often achieve over
20 weeks of rental a year (plus owners usage)
and this has been repeated again in the last
12 months. Even with a couple of cancellations
from UK clients, who could not travel due to
government restrictions, the weeks have been
filled with French holiday makers at full tariff,
such is the appeal and interest in the area.
Indeed, the Chamonix Valley is one to watch,
with a lot of talk of owners wishing to sell, due to
reduced rental revenues over the last few months,
which could lead to a jump in available stock.
With a perennial demand in the valley, I expect to
see a lot of sales completed. Similarly, Samoëns
is in very high demand, with chalets, apartments
and new build all selling well."
HAUTE SAVOIE